Useless Credit Limit

steviesteve_2

Hi,
Just been through setting up Barclay's supposed amazing credit card.
First I didn't get the freebies then they only gave me 460 credit limit - pretty useless.
If I hand the card back (I've not registered it yet) will my credit scoring benefit? or is it too late and I may as well use what I've got & try for another?
I'm dead annoyed that they've added their footprint to my score and I've got nothing for it!

Zebedee69

Whats probably happened is that your credit report is not as strong as it would need to be to get that card.

It upto you whether you give the card back, the footprint will be on your file whatever happens. I would....

- Check your credit files and see whats on them and if there are any issues.
- If the issue is lack of history ie: Its your first credit card etc etc then use the card and pay it off for a year or so. This is bolster your rating and open up better offers for you.....
- Unfortunately the trick loan and card companies use is "typical" apr and "typical" offers. The typical is normally the apr given to those with near perfect records. A low section of the poputation although it is meant to be 2/3 of people Im sure they fudge the figures up!

GeorgeUK

Agreed

You've got the card and it's on your credit history now. May as well use it.
You could contact them in 3/4 months and ask to have the limit increased - you could do that now, but will probably not get it. No harm in asking i suppose.

steviesteve_2

Thanks Folks,
All helps I suppose.